Nasdaq Inc. and Romanian energy exchange OPCOM have signed a new market technology agreement for Nasdaq to deliver new matching engine and clearing technology via the Nasdaq Financial Framework architecture.
OPCOM will leverage the modular functionality of the Nasdaq Financial Framework to offer additional services to their members and clients. This new agreement marks the next chapter in the technology relationship of the two companies which began in 2005.
CEO of OPCOM Victor Ionescu said that OPCOM is strongly committed to providing the best services for market participants, and in doing so, will continue to be supported in the next evolution of its market technology by Nasdaq. Since 2005, OPCOM’s platform has operated on Nasdaq technology, which has over the years supported several market mechanisms implemented by OPCOM. In addition, the partnership between Nasdaq and OPCOM has brought added value into Romania’s energy market, while also strengthening market participant confidence, and also greatly contributed to the implementation of a new important legal framework in the energy domain.
Nasdaq’s Regional Manager James Martin said that OPCOM has demonstrated a strong dedication in investing in its technology and operations and by running trading and clearing technology on the Nasdaq Financial Framework, it can seamlessly build and expand its business and capabilities to the benefit of its clients, partners and investors.
According to the data from electricity transmission system Transelectrica, a total of 99 TWh of electricity was traded on the Romanian electricity exchange OPCOM in 2017, while the value of electricity traded on the day-ahead market amounted to 1.23 billion euros.
